Blackstone Acquires International Gemological Institute (IGI)

Antwerp, May 21, 2023 – Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have acquired International Gemological Institute (“IGI”) from Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. (SHSE:600655), a subsidiary of Fosun, and Roland Lorie, who belongs to the founding family.

Founded in 1975 in Antwerp, IGI is a global leader in independent certification of diamonds, gemstones, and jewelry, with a global footprint of 29 laboratories and 18 schools of gemology across 10 countries. IGI is the world’s first gemological laboratory to hold ISO accreditation in both natural and lab-grown diamonds. Since 2005, IGI has pioneered the certification of lab-grown diamonds, paving the authentication and standardization of a rapidly growing industry.

Mukesh Mehta, a Senior Managing Director in Blackstone Private Equity Group, said: “IGI has spearheaded the certification of natural diamonds, lab-grown diamonds, and colored stones, becoming a global market leader and providing confidence to manufacturers, retailers, and consumers around the world. We are bringing the best of Blackstone to the business – our operational expertise, capabilities in technology, and global track record in building successful businesses to help the company expand its global footprint.”

Haide Hong, a Senior Managing Director in Blackstone Private Equity Group, said: “We have been hugely impressed by the development of IGI under the strong leadership of its management team and with the support of Fosun, and we are excited to partner with IGI to help accelerate its growth trajectory. With its strong brand and reputation of upholding the highest standards of quality and authenticity, IGI is well-positioned to benefit from the increasing popularity of gemology.”

Roland Lorie, Chief Executive Officer of IGI, said: “IGI has had a successful track record for close to 50 years since we founded the company, and we are pleased to entrust Blackstone to take IGI on to its next stage of development. IGI has been a pioneer in developing products adapted to manufacturers, retailers and consumers’ expectations. Under the patronage of Blackstone, we intend to get even closer to the consumer and to grow the business exponentially. The company’s management team is excited to welcome Blackstone and further cement and build upon our market-leading position with the help of Blackstone’s scale, expertise and global network.”

Kevin Shikun, Co-Chief Investment Officer of Fosun and Co-Chairman of Yuyuan, said: “It has been our pleasure to work with Mr. Roland Lorie and the management team driving IGI’s rapid growth in the past four years. Today, IGI’s business is more diversified and solid with a more globalized landscape. We believe IGI is about to embark on a new journey of rapid growth with Blackstone’s global synergy. As the flagship of Fosun’s consumer sector investments, Yuyuan is expecting positive impacts on its financials through this sale, and further focusing of resources on the company’s key strategies and projects.”

Deutsche Bank, Ernst & Young, Deloitte and Freshfields Bruckhaus Deringer acted as advisors to Yuyuan and Roland Lorie on the transaction. KPMG, Simpson Thacher & Bartlett and Cyril Amarchand Mangaldas acted as advisors to Blackstone.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $991 billion in assets under management include investment vehicles focused on private equity, real estate, private and liquid credit, infrastructure, life sciences, growth equity, public securities and secondary funds, all on a global basis. Further information is available at Follow @blackstone on LinkedIn, Twitter, and Instagram.

About IGI
The International Gemological Institute (IGI) has 29 laboratories and 18 education facilities in major diamond and jewelry centers around the world. For 48 years, IGI has provided the fine jewelry community and consumers with a broad range of services including natural and laboratory grown diamond reports, colored stone grading and origin reports, as well as jewelry identification and appraisal reports. With the increase of lab grown diamonds in the marketplace, IGI screens millions of natural and lab grown diamonds in order for the industry and consumers to receive the product they expect. Regardless of location or marketplace, an authentic IGI Laboratory Report is the common language of trust and confidence in the gemological world. For further information on IGI, visit

About Yuyuan
Yuyuan, listed on the Shanghai Stock Exchange (Code: 600655), is the flagship platform of Fosun’s consumer sector. Yuyuan owns and operates core commercial properties in the historically renowned Yuyuan-Bund area at heart of Shanghai, attracting over 50 million visitors annually. Yuyuan also owns Laomiao Gold, one of the largest gold and jewelry chains in China, Tuopai Shede Spirits, a leading liquor distillery in China, and more than 10 time-honored brands in sectors like watch making, cosmetics, TCM health, and culture & creativity.

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